Zhejiang Jiahong Asset Management Co., Ltd. completed the acquisition of 5.2% stake from Shanghai Hongli Equity Investment Co., Ltd.
September 08, 2021
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Zhejiang Jiahong Asset Management Co., Ltd. signed an agreement to acquire 5.2% stake from Shanghai Hongli Equity Investment Co., Ltd. for approximately 170 million CNY on August 27, 2021. Under the terms, Zhejiang Jiahong Asset Management will acquire 6.5 million shares of JiangSu Zhenjiang New Energy for CNY 25.98 per share. Shanghai Hongli Equity Investment will pay CNY 20 million with 3 days of signing agreement, within 3 days from the date when the Exchange issued a confirmation opinion on the application for the transfer of the target shares meeting the conditions and agreed to the transfer of the target shares will pay CNY 119.75 million and rest after completion of transfer of shares both parties shall separately negotiate the specific payment time and method of payment for remaining CNY 29.12 million. As of August 31, 2021, Shanghai Hongli Equity Investment paid CNY 119.75 million.
Zhejiang Jiahong Asset Management Co., Ltd. completed the acquisition of 5.2% stake from Shanghai Hongli Equity Investment Co., Ltd. on September 8, 2021.
JiangSu Zhenjiang NewEnergy Equipment Co., Ltd. is a China-based company principally engaged in the design, processing and sale of wind power equipment and photovoltaic equipment components. The Companyâs main products include nacelles, rotors, stator segments and other wind turbine equipment, as well as fixed and adjustable photovoltaic supports, tracking photovoltaic supports and other photovoltaic equipment products. The Company's products are used in wind power generation equipment and ground photovoltaic power generation systems. The Company distributes its products in domestic market and to overseas markets.